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Tuesday 25.09.2018 | Name days: Rauls, Rodrigo
LatviaLatvia

Average size of company car park – same as it was in 2005

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During the recovery of the country’s economy, the average number of vehicles owned by any given company does not exceed one or two cars. The companies are currently developing their car park, but their maintenance costs are being strictly monitored. Most businessmen carefully consider any related costs and the required number of vehicles, as the latest If Insurance KASKO portfolio analysis states.

The number of cars owned by most companies (40%) does not exceed one or two cars. Approximately 20% more companies own three or four cars. ‘The most rapid development is currently noted in the sphere of cargo transport – businessmen add and renew their current car parks, as well as hire additional drivers. Owners of large car parks are generally a small fraction of the total number of car park owners. It should be added that the average car park size does not exceed the index of 2005/2006 – when a rapid growth was beginning on the economy, ‘- If Insurance KASKO product manager Kaspars Duburs says.

Car park expansion during the pre-crisis period was often carried out by making short-sighted and surprising decisions regarding a company’s expenses. ‘As a rule of thumb, every businessman who bought a cargo truck and a de luxe car – did not plan a long-term business strategy, but expected fast profits. Usually, this kind of business thinking ale relates to insurance – as soon as an insurer suggest using risk reduction, a decision is made to change the insurer to a more allowing one,’ – Duburs comments.

It seems that businessmen are more reasonable now. They usually evaluate the circle of employees that would require a car to perform their duties. Businessmen also monitor the car’s routes and fuel consumption more closely, so that employees would use the car to perform their duties, not use it for their personal pleasure.

Experienced car park owners also carefully monitor how workers use the cars. ‘The more aggressive the driving style, the faster the car breaks down. It is also noted that the higher the economic wellbeing is in the country and the chances of purchasing a car, the less careful low-cost driving is valued. All this because repair and fuel prices seem more acceptable,’- Duburs explains.

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